Imation faces New York boot
Imation is facing ejection from the New Your Stock Exchange because its share price is too low.
Imation, a holding company with the Nexsan storage array subsidiary, has been sent a note by the NYSE authorities saying it could be booted out of the exchange because its share price has been less than a dollar for 30 days. It has isx months to get the stick price back up. The company says that, “at the corporate level, there is an ongoing strategic review as Imation expects to seek and explore new opportunities that will allow it to pursue a diverse range of business opportunities and deploy its excess cash.” ®